International Housewares Retail Company Limited provided earnings guidance for the six months ended October 31, 2020. The company announced that based on the information currently available to the Board, the Group is estimated to record an increase in net profit for the six months ended 31 October 2020 of not less than 235% as compared to the corresponding period in 2019. The Board considers that such increase in profits is primarily attributable to the recognition of income in the Interim Period including (1) approximately HKD 59 million in total under Employment Support Scheme by the Government of the Hong Kong SAR; (2) other subsidies of approximately HKD 14 million in total from HKSAR, the Government of Singapore and the Government of the Macau SAR; (3) rent reliefs of approximately HKD 19 million in total from landlords and governments; and (4) the increase of the Group's revenue for the Interim Period of not less than 13% as compared to the Corresponding Period. After removing the impact of the income specified in item (1) to (3) above, the Board considers that the Group is estimated to record an increase in net profit for the Interim Period of not less than 50% as compared to the Corresponding Period.